Could conflict in Iran affect New Zealand's economy?

Could the fall out from conflict in the Middle East flatten New Zealand's economy? Strikes on Iran by the US and Israel have closed airspace and disrupted flights, as Iran retaliates. The Hormuz strait, a vital trade route is effectively shut, where up to 20 percent of the world's oil transits the narrow strip of water between Iran and Oman. One local logistics company has said it has 4000 cargo containers in transit in that trade lane. Infometrics principal economist Brad Olsen spoke to Lisa Owen.